The Home Building Industry Advancement Fund (HBIAF) was created in 1966 as a not-for-profit corporation. Its Board of Trustees is appointed by the HBA President. The current chairman is Bob Behlman (Behlman Homes).

HBIAF was created as a means of equitably funding both the training of carpenters for the region and as a way to generate funds to better the housing industry. It is funded through employer contributions specified in a contract agreement with the carpenters union. Contractors pay a specified “cents per carpenter hour worked” into the fund.

From that contribution, the majority is remitted to the Carpenters Joint Trust Fund to operate the Training School in Affton.This school is one of the best in the nation in training those in the carpentry trade. It is managed jointly by contractor and union leaders.

A portion of the employer contribution is paid to HBIAF to pursue “the betterment of the industry". Depending upon the number of carpenter hours worked, the fund revenue will fluctuate. HBIAF tries to meet a mission of assisting the HBA in areas of:

"staff support, legal representation, educational programs, support industry-related issues and public relations. HBIAF is the funding arm the HBA in improving the public image of the residential construction industry and in encouraging a more favorable climate for home building."